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Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
0

any benefits to hidden TL?

Are there any benefits to having/keeping a hidden TL?  I have one for medical bills (kind of like Care Credit) that is about $6,000 CL but does not report to any CRA.  However, they will report if you are delinquent.  (it seems kind of unfair they won’t report if you do pay on time though)   There is a $20 AF for this account but frequently there is 0% interest charged for 90 days etc to pay a bill off and even if you do pay interest it is only 5.99%.   

 

 

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008
0

Re: any benefits to hidden TL?

Definitely keep it.  You never know.
Regular Contributor
Ishmael109
Posts: 184
Registered: ‎03-04-2008
0

Re: any benefits to hidden TL?

Keep it.  I have a UMB CC that is a hidden tradeline. I like the fact that I can make large purchases, pay when the statement cuts, and not worry about the charges factoring into my utilization. I don't carry a balance, but if I had to, this would be the card I would use.
Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008
0

Re: any benefits to hidden TL?

Where is that from, and how do I get one?  :smileyhappy:
Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
0

Re: any benefits to hidden TL?

Its called Medkey. (http://www.medkeyinc.com)  Its for providers in the Roanoke, VA area that are with Carilion Clinic.  There was no credit check so I’m assuming it was based on income.  I was approved early this year before I started any re-building/clean up of reports.  I almost wish it would report as it would help a lot with my current utilization.  Even though it’s a $20 AF I think I will keep it.  Looking at my benefits for next year our co-pays are increasing drastically as well as coinsurance due for outpatient services & I don’t have any CC with this high a CL to charge to if I needed it plus the interest is so low. 

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008
0

Re: any benefits to hidden TL?

It's a good deal all right, mt2va.  At $20 AF, that's pretty cheap. 

 

Unfortunately, I don't have time to move to Roanoke right now, but I hear it's a nice place!

 

Thanks for the info.

Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
0

Re: any benefits to hidden TL?

No benefits.  It's just like the rich hiding money overseas.  It's so deceptive which only hurts the consumers when the account isn't reported to the CRA's.  Luckily one doesn't have to worry about the IRS coming after them for the deceptive practice.
Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008
0

Re: any benefits to hidden TL?


DI wrote:
No benefits.  It's just like the rich hiding money overseas.  It's so deceptive which only hurts the consumers when the account isn't reported to the CRA's.  Luckily one doesn't have to worry about the IRS coming after them for the deceptive practice.

I dunno, DI....I've got to pay a med bill today, and it's a hefty one.  If I had this hidden TL, I could put most of it on that, and not worry that my score would take a hit from that balance reporting, and possibly cause AA from other creditors.  This particular balance might make them nervous.  And, although it will probably take 2 months to pay this charge off, with a "no interest for 90 days" scenario (like on the OP's card), I could've made it a bit easier on my checkbook and my nerves if I had the non-reporting card.

 

I think the hidden tradeline only really hurts if there's not much else in the credit file, or if there's utilization issues that the tradeline could have helped if it reported.  I would love to have this card, but that's just me, I guess.

 

 

 

 

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: any benefits to hidden TL?


Uborrow-Upay wrote:

DI wrote:
No benefits.  It's just like the rich hiding money overseas.  It's so deceptive which only hurts the consumers when the account isn't reported to the CRA's.  Luckily one doesn't have to worry about the IRS coming after them for the deceptive practice.

I dunno, DI....I've got to pay a med bill today, and it's a hefty one.  If I had this hidden TL, I could put most of it on that, and not worry that my score would take a hit from that balance reporting, and possibly cause AA from other creditors.  This particular balance might make them nervous.  And, although it will probably take 2 months to pay this charge off, with a "no interest for 90 days" scenario (like on the OP's card), I could've made it a bit easier on my checkbook and my nerves if I had the non-reporting card.

 

I think the hidden tradeline only really hurts if there's not much else in the credit file, or if there's utilization issues that the tradeline could have helped if it reported.  I would love to have this card, but that's just me, I guess.


No, it's me, too! Sounds like a great deal to me. You can pay your med bills over time with 0% APR and no UTIL-jacking? Sounds like heaven to me.

 

DI - 1) WTH does the IRS have to do with this? 2) Reporting to the CRB's is neither free or manditory.

Senior Contributor
score_building
Posts: 3,532
Registered: ‎01-10-2008
0

Re: any benefits to hidden TL?

OP -sounds like a good credit resource that offers significant value added beyond the cost of AF. 

 

Dl- pristine debt management is one good predictor of ability to manage a combo of hidden and reporting TL efficiently.

 

cwcid- is 'UTIL-jacking' when a current issuer spots high uti reporting and RJ?

 

btw, it seems BML has stepped up the utility of their hidden TL, when it was introduced as a payment source via Paypal.

 

 

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)

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